A consortium of Egyptian construction companies has secured guarantees for a loan of around €2.6 billion (US$3 billion) from several Chinese banks to finance the construction of a 250 km high-speed rail (HSR) line from Port Said to Abu Qir. The DDC Alliance, consisting of El Didi Group, Gama Construction and Concord, has received initial approval for the loan following the submission of technical and financial studies. Once further financial and economic studies have been completed, a timetable for the project's implementation is expected by the end of 2025. The consortium is also negotiating with the Egyptian Ministry of Transport to acquire land along the line, which runs along the Mediterranean coast and serves 14 stations. The proceeds from the development of these sites will be used to repay the loan, with the alliance planning to cover the construction costs within ten years through revenues from retail space in the stations and other projects. The new HSR line is scheduled for completion within four years.
